The Ministry of Agriculture, Fisheries and Food (MAPA) announced this Wednesday that The 2024-2025 olive oil campaign will recover normal production levelswith an estimate of 1.29 million tons. This figure marks a significant improvement compared to the previous campaign, as highlighted by the general director of Agricultural Productions and Markets, Elena Busutil, during the meeting of the olive oil and table olive sectoral table. The positive evolution of the campaign, supported by the first collections in the main producing areas, confirms an increase close to 50% in comparison with the previous cycle. The ministry stressed in a statement that these data reflect a notable recovery for the sector.
The crop is in good condition in a large part of the producing areas, due to the rains of recent weeks, said MAPA, which added that the recovery of production is expected to allow a balance of supply and demand, with contributions that adequately remunerate all links in the chain. For now there has been a suppression of prices at originwhich were at maximum levels in the last two campaigns, and the drop in prices since the beginning of the current harvest it has been 25.6% on averagewith a price of 5.15 euros per kilo in the last week.
Throughout the campaign, an estimated domestic consumption of 480,000 tons and exports of 980,000 tonswhich would represent an increase of 17% and 32% compared to the previous campaign, respectively. As for table olives, their production in September and October (the first two months of the campaign) has slightly exceeded the average, up to 481,000 tons, thanks to the autumn rains.
Higher olive marketing is expected than last season, specifically 190,000 tons in the domestic market (+1%) and 275,000 tons in exports (+3%). In addition, the project that reviews the basic regulations on mandatory declarations for the olive and table olive sectors is expected to be published during the first half of 2025 and come into force in the 2025-2026 campaign, he detailed. the MAP.